Hala Yateem and Usman Ahmed.
National Bank of Bahrain net profit soars to $126m in H1
MANAMA, 14 hours, 44 minutes ago
National Bank of Bahrain (NBB) has reported a 2% increase in its net profit attributable to shareholders for the first half of 2025, which soared to BD47.5 million ($126 million) compared to BD46.6 million ($123.6 million) for the same period of 2024.
Announcing the financial results for the six-month period ended June 30, 2025, NBB said this increase was driven by higher operating income supported by stable operating expenses.
Also the Group’s total assets increased by 8% during the period to BD5.96 billion ($15.8 billion) compared to BD5.52 billion ($14.6 billion) recorded on December 31, 2024.
However, the top Bahraini bank said its total comprehensive income attributable to the shareholders for the period fell 33% to BD34.3 million ($91 million) compared to BD51.4 million ($136.3 million) last year. This was mainly due to the negative mark-to-market movements of the equity and bond portfolios.
The earnings per share remained at 21 fils ($6 cents) compared with the same period in 2024, it stated.
NBB said the group’s total equity attributable to shareholders decreased by 4% as of June 30, 2025 to BD560.4 million ($1.48 billion) from BD583.8 million ($1.54 billion) reported as of December 31, 2024.
The change is mainly a reflection of the Group’s proactive distribution of value to its shareholders following the approval and declaration of BD56.4 million in year-end cash dividends for 2024, while maintaining a robust capital position, it stated.
On its second quarter results, NBB said its net profit attributable to shareholders for the three-month period ended June 30, 2025 grew 2% to hit BD19.4 million ($51.5 million) compared to BD19.1 million ($50.7 million) in the same period of 2024.
This increase was supported by the Group’s diversified revenue streams including fee-based income which registered a 45% growth, gains from client-related activities and lower provisioning requirements, it stated.
Earnings per share increased to 9 fils ($2 cents) for the period compared to 8 fils (2 cents) last year.
Total comprehensive income attributable to NBB’s shareholders for the quarter decreased by 28% to BD13.9 million ($36.9 million) compared to BD19.4 million ($51.5 million) in 2024. The decrease is attributable to the negative mark-to-market movements of the equity and bond portfolios.
Impressed with the Group’s strong performance, the Board of Directors have proposed the distribution of interim cash dividends worth BD22.6 million, which represents 10% of share nominal value, equivalent to 10 fils per share. The payment is subject to regulatory approval.
On the solid performance, NBB Chairperson Hala Yateem said: "We have maintained a strong financial performance in the first half registering an attributable net profit of BD47.5 million, an increase of 2% compared to the same period last year, and a record result for the first six months of any year. This growth was underpinned by a robust balance sheet, with total assets up 8% from the year-end level."
"Following this sustained positive trajectory, the Board has approved an interim cash dividend of 10%, underscoring our ability to deliver consistent returns to shareholders. Our return on average equity of 16.9% further highlights the Group’s financial resilience," she stated.
"Beyond the financial metrics, we remain focused on supporting the national developmental agenda through continued investments in community-focused and ESG-driven initiatives. Our progress so far reflects the strength of our current market position as we move into the second half of the year," she added.
Group CEO Usman Ahmed said: "Our operating profit for the first six months reached BD53.6 million, representing a 4% increase over the same period last year. A growth of 8% in total assets and 5% in customer deposits indicates the strength of our balance sheet and the continued trust of our clients."
"These results additionally showcase how we continue to enhance our service quality and broaden our social contributions with work that has garnered industry acclaim," noted Ahmed.
"During the second quarter of the year, NBB received the Euromoney Awards for Excellence for ‘Best Bank in Bahrain’, ‘Best Bank for ESG’, and ‘Best Bank for Corporate Responsibility’ for our standout financial performance, digital transformation initiatives and customer-centricity," he stated.
"We were also named the ‘Best Retail Bank – Bahrain’ and ‘Best Payment Ecosystem Integration for Corporates’ at Meed’s Mena Banking Excellence Awards. Our team remains committed to consistently delivering exceptional customer experiences and sustainable growth across the Group," he added.-TradeArabia News Service
